Leave it to our representatives in Washington to make a compromise that ignores most of their previously stated beliefs -- of only a few days ago. This just reinforces again the old joke "How do you know when a politician is lying?..."

Monday the Obama administration and congressional Republicans came to an agreement to extend both unemployment benefits by 13 months, and the Bush-era tax cuts for all by two years. What happened to the Republican and Democratic noise about fiscal responsibility and reducing the debt?

A few days ago Republicans were not going to vote for an extension of the unemployment funding if there was not an associated revenue offset to pay for it. That's gone, so the deficit is going up. The Democrats claimed they would not back an extension of the tax cuts for people that earned over $200,000 for individuals and $250,000 for joint returns claiming this would add $900 billion toward debt reduction. That's gone so the deficit is going up.

Continue reading Serious Money: Washington Compromise Stinks, but Here Are Some Stocks to Look At

Serious Money: Washington Compromise Stinks, but Here Are Some Stocks to Look At originally appeared on BloggingStocks on Tue, 07 Dec 2010 16:40:00 EST. Please see our terms for use of feeds.

Continue reading Senate May Vote This Week on $30 Billion Community Bank Capital Bill

Senate May Vote This Week on $30 Billion Community Bank Capital Bill originally appeared on BloggingStocks on Tue, 27 Jul 2010 13:30:00 EST. Please see our terms for use of feeds.

• The free-fall in employment rolls has stopped. While the U.S. unemployment rate has risen to an unacceptable 9.7%, the unemployment rate would have been much higher without the roughly $800 billion in economic activity generated by the stimulus.
• Tens of thousands of local police officers, fire fighters, teachers, and other public service personnel have retained their jobs -- helping to stabilize the local economies where these civil servants work and live.

Continue reading Fiscal Stimulus Helped Stabilize U.S. Economy

Fiscal Stimulus Helped Stabilize U.S. Economy originally appeared on BloggingStocks on Wed, 17 Feb 2010 04:30:00 EST. Please see our terms for use of feeds.

Continue reading Obama Administration Weighing New Fee on Banks to Pay for Bailout

Obama Administration Weighing New Fee on Banks to Pay for Bailout originally appeared on BloggingStocks on Mon, 11 Jan 2010 17:00:00 EST. Please see our terms for use of feeds.

If mortgage companies start to feel like they're losing elbow room, it's probably because they're starting to get nudged by the Obama administration. The folks in the White House are planning to kick off a campaign to squeeze mortgage companies to lower payments for even more borrowers who are in trouble. The $75 billion program, financed by taxpayers, to keep homeowners from falling into default appears to be in trouble.

Mortgage lenders have increased their efforts to modify borrowers' mortgages, but most of them are still in a trial stage, which will last up to five months. Only a handful have been made permanent, which isn't good enough for Washington. The Treasury Department's assistant secretary for financial institutions, Michael S. Barr, told the New York Times, "The banks are not doing a good enough job," continuing, "Some of the firms ought to be embarrassed, and they will be."

Continue reading White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief

White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief originally appeared on BloggingStocks on Sun, 29 Nov 2009 15:10:00 EST. Please see our terms for use of feeds.

When you spend $787 billion, there's a lot of pressure to show results. So, there's no surprise that success is being proclaimed across the country. States are saying that they've used the federal stimulus package money to create or save more than 388,000 jobs this year. Teachers, construction workers and other professions have realized the upside of stimulus cash according to reports from 33 states and Puerto Rico, with the remainder of the results being released on Friday.

Of course, the numbers "should be taken with a grain of salt," says Ethan Pollack of the Economic Policy Institute. The states were tasked to count the jobs created or protected, but the results have been of dubious accuracy. This doesn't mean the stats can't provide fodder to people on both sides of the aisle.

Columbia Business School's Frank Lichtenberg says the data shows a solid economic impact, and the Obama administration's Council of Economic Advisors believes the stimulus spending has taken care of between 600,000 and 1.1 million jobs.

And, there are those who disagree.

Continue reading Race to declare victory for stimulus

Race to declare victory for stimulus originally appeared on BloggingStocks on Wed, 28 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

We're tired of bubbles, right? Anyone 30 or older has lived through two big ones so far, with a brief period of prosperity separating the decimation of dot-com largesse and mortgage-fueled paper wealth. It could take until 2014 for the jobs lost to be replenished, and there's little reason for optimism.

So, with the economy in the tank, we can focus elsewhere -- maybe on saving the planet. If we can't put green in our wallets, maybe we can add some to our lifestyles. Or, you could do both. Green technology could be the next boom in the United States, even if we do lag some parts of the world, and investing in clean solutions is really nothing other than investing in the next big thing. Even if you don't give a damn about climate change (or don't think it exists at all), the green market could likely become your employer -- or trigger the economic growth that will create your next job.

Some signs are visible already.

Continue reading Five signs that green is the next bubble

Five signs that green is the next bubble originally appeared on BloggingStocks on Wed, 07 Oct 2009 12:00:00 EST. Please see our terms for use of feeds.

Dell Inc. (NASDAQ: DELL) wants to get into the game of digitizing medical records for physicians who work with (not at) hospitals. Dell wants to ensure all these physicians and their offices remain compatible with the computer systems used by small and mega hospitals, along with making any current processes less expensive and more efficient.

Just like Hewlett-Packard Corp. (NYSE: HPQ), Dell may be able to expand its services and consulting into areas just waiting for extreme amounts of help and expertise. With consumer and business PC purchases continuing to be slower than in the past -- and with a presidential mandate to digitize all medical records in the U.S. -- Dell's opportunity here is enormous. That is, if it goes bananas and actually takes advantage of it beyond lip service.

Continue reading Dell could win big in the electronic medical records field

Dell could win big in the electronic medical records field originally appeared on BloggingStocks on Fri, 11 Sep 2009 14:00:00 EST. Please see our terms for use of feeds.

Late Wednesday, the EnerDel unit of Ener1 Inc. (NASDAQ: HEV) scored a grant from the Obama administration to make battery parts. The company's $118.5-million handout was part of a $2.4-billion grant package doled out to automakers and related firms by the federal government in order to fund the domestic development of next-generation car batteries.

Indiana-based Ener1 says that the Obama grant, along with $480 million in Department of Energy loans it's applied for, should translate to rapid growth in its staff. The company has 150 employees currently, but said that number could surge to 3,000 workers as soon as 2015.

Continue reading Obama grant draws fresh eyes to Ener1 Inc. ahead of earnings

Obama grant draws fresh eyes to Ener1 Inc. ahead of earnings originally appeared on BloggingStocks on Thu, 06 Aug 2009 12:20:00 EST. Please see our terms for use of feeds.

Christine A. Varney heads up antitrust at the Department of Justice, and she's going hunting. She is the point person for a group consisting of the presidential administration and some Congressional Democrats that is looking to put the breaks on large companies in several industries.

Already, airlines have run into roadblocks when requesting relief from antitrust regulations. Varney & Co. are digging into complaints by AT&T (NYSE: ATT) and Verizon (NYSE: VZ) that cable competitors - e.g., Cablevision (NYSE: CVC) - have locked them out of the market for cable company-produced programming.

(Imagine that, a phone company complaining! Usually, they're the objects of derision.)

Continue reading Antitrust orgy coming: Airlines, tech and others in sights

Antitrust orgy coming: Airlines, tech and others in sights originally appeared on BloggingStocks on Mon, 27 Jul 2009 09:00:00 EST. Please see our terms for use of feeds.

Europeans and Asians have positive views of President Barack Obama, according to the latest Quarterly Bloomberg Global Poll of investors and analysts. Americans, on the other hand, are split down the middle.

According to the study, 87% of respondents in Asia and Europe rate Obama favorably. In the United States, only 49% share this perspective -- a number that drops to around 25% when only his economic policies are considered. Much of this difference comes from an overseas distaste for the previous White House resident, but it seems people in this country are less interested in distinctions: 43% of respondents favored Bush's policies to Obama's (compared to 80% overseas).

Continue reading Bloomberg poll finds Obama popular with non-American investors

Bloomberg poll finds Obama popular with non-American investors originally appeared on BloggingStocks on Thu, 23 Jul 2009 12:00:00 EST. Please see our terms for use of feeds.

Continue reading House health care bill seeks 5.4% tax increase on $1 million earners

House health care bill seeks 5.4% tax increase on $1 million earners originally appeared on BloggingStocks on Tue, 14 Jul 2009 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Fed to okay TARP repayment for some banks, appoint a Pay Czar

Fed to okay TARP repayment for some banks, appoint a Pay Czar originally appeared on BloggingStocks on Mon, 08 Jun 2009 10:10:00 EST. Please see our terms for use of feeds.

Last fall, I suggested that General Motors Corp. (NYSE: GM) ought to follow a six point restructuring plan. One of those steps was to can GM's CEO Rick Wagoner. Under his tenure, which began in 2000, GM's stock has lost 95% of its value and GM has posted $30 billion in 2008 losses while presiding over a North American market share slide from 33% to 19%. What amazes me is that GM's board did not step in years ago. So Monday, President Obama will officially ask Wagoner to step aside.

Continue reading Obama to GM CEO Wagoner: You're Fired!

Obama to GM CEO Wagoner: You're Fired! originally appeared on BloggingStocks on Sun, 29 Mar 2009 21:10:00 EST. Please see our terms for use of feeds.

Continue reading If the U.S. economy strengthens, Fiscal Stimulus II may be shelved

If the U.S. economy strengthens, Fiscal Stimulus II may be shelved originally appeared on BloggingStocks on Wed, 11 Mar 2009 12:15:00 EST. Please see our terms for use of feeds.

Lately, it has been as if every lesson from a first-year graduate seminar in public policy is being played out on the national stage.

Let's underscore one point: the nation appears to be nearing a policy to deal with the financial crisis. Investors should try to keep that at the forefront. Or maybe paste it on to their computer screens at work or in their home offices, so that they can maintain a sense of perspective. Yes, it's about a year late, but there was another U.S. president in charge then: the new guy's just arrived. Moreover, if calm prevails, the nation is going to get through this difficult period, this aftermath of the decade of policy errors, the decade of descent.

Continue reading In banking fix, U.S. must remain focused on success, not justice

In banking fix, U.S. must remain focused on success, not justice originally appeared on BloggingStocks on Wed, 04 Mar 2009 13:40:00 EST. Please see our terms for use of feeds.

Continue reading Will the U.S. economy need a second fiscal stimulus package?

Will the U.S. economy need a second fiscal stimulus package? originally appeared on BloggingStocks on Thu, 26 Feb 2009 14:55:00 EST. Please see our terms for use of feeds.

Congress is sending a bill to President Obama's desk that limits banker pay. Specifically 11 pages in the 1,073-page $787 billion stimulus bill describe a provision that limits bonuses for executives at all financial institutions getting government money to a maximum of a third of their salary. And these are not cash bonuses -- instead they'll be paid in company stock that executives can't sell until the government investment has been repaid.

Citigroup (NYSE: C) CEO Vikram Pandit, volunteered to take a $1 salary until his company returns to profitability. Assuming Citi posts a loss in 2009, Pandit's maximum bonus for the year will be 33 cents -- which at today's price would amount to a tenth of a share of Citi stock.

Continue reading Will Citi CEO get a 33 cent bonus this year?

Will Citi CEO get a 33 cent bonus this year? originally appeared on BloggingStocks on Sat, 14 Feb 2009 10:24:00 EST. Please see our terms for use of feeds.

Continue reading Where does the U.S. economy go from here?

Where does the U.S. economy go from here? originally appeared on BloggingStocks on Thu, 12 Feb 2009 14:20:00 EST. Please see our terms for use of feeds.

Continue reading Martin Wolf: If the U.S. dares to succeed, it will

Martin Wolf: If the U.S. dares to succeed, it will originally appeared on BloggingStocks on Mon, 09 Feb 2009 17:20:00 EST. Please see our terms for use of feeds.